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For an investor, there exist many ways in which one can invest in mutual funds. The five channels through which one can invest in mutual funds include direct investment through online platform/mobile app or in their physical format, through a financial planner/advisor, through a bank in which one has an account, through an online broker/fund advisor, or through a wealth management firm. The costs of buying the mutual funds vary according to the channel that is used. However, it is also true that no money needs to be paid upfront to the person who helps you to acquire the mutual funds.

Mutual funds are attractive because they provide easy and a not-so-expensive access to professionally managed assets. A mutual fund is nothing but a pool of money from many investors who wish to save money or make more money. Mutual funds always invest in a diversified set of assets that include equity shares, government securities, and bonds, etc. The investment is managed by a professional fund manager. The profits are then distributed. The annual expenses are also reasonable. Nowadays, banks also offer their clients a chance to invest in mutual funds. The bank offers a limited pool of mutual funds, usually managed by a single company, to their customers. This limit is because banks are all about primarily organizing savings for their customers on a day-to-day basis.

Though a bank may be limited from offering a large number of mutual funds for clients to choose from, a major advantage lies in the fact that account balance requirements may be lower in the case of a bank when compared to a brokerage firm. This makes it more attractive for clients to pick up mutual funds from a bank. It may also happen that a brokerage can have a branch in a bank and thus be able to offer a range of funds to those customers who visit their favorite branch.

For a client that decides to invest in mutual funds through a bank, it is important to evaluate the list of available funds with the bank. The client should be clear about the performance of the fund so that the investment would lead to the fulfillment of financial goals. It is best to invest in mutual funds through banks when you have sufficient knowledge about the funds that you are going to invest in.

The cost of investing in mutual funds through banks is not much and there is no additional fee that is charged. Some of the banks are known to charge a transaction fee of as much as 2 percent. This may not be mandatory in all cases and this charge is more dependent on the size of the transaction. It is also negotiable.

South Indian Bank – Mutual Funds

South Indian Bank has tied up with high-performance mutual funds in the country and this is helpful in that the customer can choose a suitable fund depending on the financial goals that they want to achieve. Some of the mutual funds available are Franklin Templeton, Reliance Mutual Funds, HDFC Mutual Fund, L&T Investment Management Ltd., HSBC Investments, TATA Mutual Fund, ICICI Prudential AMC, LIC Nomura Mutual Fund, SBI Mutual Fund, etc., among others.SIB is the best option if you are willing to invest in Mutual Funds.

Investments of clients in equity-linked savings schemes for up to 1.5 lakh INR are eligible for tax exemption as per Sec 80C. The lock-in period for these funds is 36 months. Long-term capital gains are exempted subject to the provisions of the 1961 Income Tax Act. Dividends that are got from equity funds are free from being taxed.

SIB offers both open-ended funds and close-ended funds for their clients to invest in. a majority of mutual funds are open-ended funds and are available throughout the year for investment into them. The clients can buy or sell the whole or part of their investments at a price according to the Net Asset Value. However, an exit load charge of 1 percent is charged if the funds are sold and the amount is redeemed within one year of purchase. If the redemption is after one year there is no exit load charge.

SIB also allows investment in close-ended funds. These are funds are those that operate for a fixed duration say between 3 and 15 years. These funds can be subscribed to only during a specific period. However, they are traded on the stock exchange like regular shares. These funds terminate on specific dates when they can be redeemed by the investors.

Systematic Investment planning (SIP)

SIP refers to step-by-step investments in mutual funds in a regular manner. It is much like making recurring deposits. However, in this case, the client will be investing in mutual fund assets. When a client opts for SIP the investment can be done in parts. With SIB a client can invest in Mutual Funds as little as 500 INR per month. A standing instruction in online banking option can help a client opt for SIP. This allows the client to enter the market at different cost levels and therefore the ultimate cost is averaged out. The SIP can be done on a quarterly basis also.

With SIB it is very convenient to make the investment. A client can fill up0 the enrollment form and also give an auto debit mandate form. Subsequently, the mandated amount will be debited from the client’s account and the corresponding number of mutual fund units will be credited to the client’s account. Small investments may not seem big at once. But however, when one continues to invest over many years, they actually get into the habit of saving. These small amounts add up to big savings which provide handsome amount after a few years. This is because, over the longer term, the mutual funds average out by capturing both the lows and highs of the market.

For any investor, it is a good idea to enter the market when the NAV of a fund is low. This helps to procure more units of the fund.